Your Velocity@ocbc application will be processed within 7 working days upon receipt of the completed form.

If you have further questions, call us at (65) 6538 1111 (Monday – Friday, 8.30am to 6pm) or send your enquiry to velocity@ocbc.com.

Upon receipt and verification of your application, the Bank will process your application within 7 working days.

The password mailers will be sent by normal mail to the individual users. The Velocity@ocbc starter kit is sent separately to the contact person indicated in your application form. Starter kit for Basic Service Package is sent by normal mail. Starter kit for Other Service Packages are sent by registered post.

If you have further questions, call us at (65) 6538 1111 (Monday – Friday, 8.30am to 6pm) or send your enquiry to velocity@ocbc.com.

Use the “Balance Summary” function to access the real-time balance summary of your accounts.

a) Select “Cash”

b) Select “Statements”

c) Select “Balance Summary”

d) Click “Retrieve Latest” to obtain real-time balance information

e) Click “Print” to print your balance summary information

Use the “Statement Enquiry” function to access your account statement and transactions. You can view your transactions from the last 60 days.

a) Select “Cash”

b) Select “Statements”

c) Select “Statements Enquiry”

d) There are 6 options for viewing statements, enter the selection criteria as prompted

e) Click “Show Statements” to view

f) To obtain a printout of your statements, click “Print Summary” to view your statements in Acrobat Reader format

g) Click “Print” to print your account statement

Note: Adobe Reader Version 8.0 is recommended for viewing statements online.

You can retrieve them from your real-time online statements that are up to date.

a) Login to Velocity@ocbc

b) Select “Cash” > “Statements” > “Statements Enquiry”

c) Enter the selection criteria as prompted and click “Show Statements” to view.

d) To obtain a printout of your statements, click “Print Summary” to view your statements in Acrobat Reader format. Click “Print” to have it printed out.

Note: Acrobat Reader version 8.X or 9.X is recommended for viewing statements online.

Newly-opened accounts are not tagged automatically tagged online. Please complete the Velocity@ocbc User Request form to request for a replacement.

Please submit the original form, duly signed by the authorised persons, to any of our branches or mail to the address indicated on the form. Upon receipt and verification of the form, we will process your request within 7 working days.

Please check that you have Acrobat Reader version 8.X or 9.X installed. Otherwise, you may wish to download it from www.acrobatreader.com.

In a typical transaction workflow via Velocity@ocbc, the creator prepares the banking transaction online and submits the prepared transaction to an authoriser for approval.

The authoriser on the other hand will authorise the transactions prepared by the creator. In the case of Basic Plus Service package, the same user is both the creator and authoriser.

Each transaction must be fully authorised, either singly or jointly (this arrangement is specified at point of application) before it will be processed by the bank. After authorisation, you should check on the status of transaction to see if it has been accepted by the bank.

All financial transactions must be fully authorised by the Authoriser before they are submitted to the Bank for processing.

a) Login as an authoriser

b) Select “Cash”

c) Select “Authorisation”

d) Select either “Manual” or “File Upload”

e) Select the transactions that you want to authorise. You can select multiple items by checking the checkbox next to the transaction you wish to authorise.

f) Select one of these options:
   Authorise – Only available for manual transactions
   Verify sub-batch – Only for GIRO-related payments for file upload
   Auth sub-batch – Only available for file upload by batch transactions

g) The Digipass Verification screen will be displayed. Enter the 6-digit security code into the “Security Code” field and click “Submit”

h) You will be prompted with a dialogue box indicating that your transaction has been authorised successfully.

i) The status of your transaction when fully authorised will change from

READY2AUTH > AUTHORISED > SUBMIT2BANK

If your transactions require more than one authoriser to authorise, the next authoriser will need to repeat the steps described above. When completed, your transactions will be sent to OCBC bank for processing.

Manual – If your creator has prepared a transaction by manually entering the payment details.

File Upload – If your creator has prepared the transactions by uploading a file that is Velocity@ocbc (business internet banking) format-compliant.

If your transfers / payments are to be delivered on the same day of the transaction, MEPS payment method would be recommended. However, there would be a charge of S$20 per transfer.

Otherwise, GIRO payment method would be recommended. A charge of S$0.20 applies and the money would be received 2 days after the value date.

There will not be any notifications on the status of your transactions. You can check the status through Velocity@ocbc.

For GIRO transaction status:

On submission date,

a) Select “Cash”

b) Select “Payments SG”

c) Select “GIRO Payroll”, “GIRO Payment”, “GIRO Mgmt Payroll” or “GIRO Collection”

d) Leave the fields for “Search”, “Criteria” and “Filter By” empty

e) Click “Go”

f) Select the transaction items you wish to check. If the status is “PreProcAcpt”, it means that all GIRO transactions items have been pre-processed and accepted

g) Otherwise, to check on the reason of rejection, click on “Status View”

h) Click “Rejected” and refer to the “Remarks” column

On value date,

a) Select “Cash”

b) Select “Statements”

c)  Select “Statement Enquiry”

d) Select “Current Day Statements”

e) Select the account number you would like to check, and click “Show Statements”

f) Click “Details”

g) Check that the transaction amount has been deducted from your account

On the following business day after the value date at 3pm (for non-OCBC Bank transactions),

a) Select “Cash”

b) Select “Payments SG”

c) Select “GIRO Payroll”, “GIRO Payment”, “GIRO Mgmt Payroll” or “GIRO Collection”

d) Leave the fields for “Search”, “Criteria” and “Filter By” empty

e) Click “Go”

f) Select the transaction items you wish to check. If the status is “BackOffAcpt”, it means that the transactions have been accepted after processing

g) Otherwise, to check on the reason of return, click on “Status View”

h) Click on “Returned” and refer to the “Remarks” column

For other transaction status:

a) Select “Cash”

b) Select “Payments SG”

c) Select desired “Transaction Mode” (Cashier’s order, draft, internal transfer etc.)

d) Check Status under “Status” column

General

Giro

Cashier’s order

A cashier’s order is a local currency cheque issued by the Bank on behalf of the applicant and made payable to the payee indicated on the cashier’s order.

Draft

A draft is a cheque issued by the Bank on behalf of the applicant and made payable to the payee indicated on the draft. This is normally used for overseas transactions in a foreign currency.

Internal transfer

An internal transfer is the transfer of funds from your OCBC account to another OCBC account.

Own-account transfer

Own-account transfer is the transfer of funds between your OCBC accounts. Such accounts must be subscribed to Velocity@ocbc.

MEPS payment

A MEPS payment is a Singapore dollar transaction, from one account to another, between banks in Singapore. This is typically used for high-value transactions on an urgent basis.

GIRO payment

A GIRO payment is a Singapore dollar payment to your beneficiary who has an account with any bank in Singapore. This is typically used for low-value payments.

GIRO payroll

A GIRO payment is a special form of GIRO payment to your employees, whose payroll information is kept separate from the other GIRO payments in Velocity@ocbc.

GIRO mgt payroll

A GIRO Mgt Ppayroll is a special form of GIRO payment to your managerial employees, should you wish to segregate their payroll information from the other employees in Velocity@ocbc.

GIRO collection

A GIRO collection is used to collect funds from your customer who has an account with any bank in Singapore. (Customer must have signed a Direct Debit Authorisation form before transaction can take effect).

Telegraphic transfer

A telegraphic transfer is a transfer of funds to your beneficiary who has an account with either a bank overseas or locally. This is typically used for high-value payments, either in Singapore dollar or a foreign currency.

Stop cheque

The stop cheque function allows you to instruct the bank to stop single / multiple corporate cheque(s) which run in consecutive sequence issued to a beneficiary.

Bill payment

The bill payment function can be used to pay your company’s bills to selected billing organisations (BOs), for example, to pay for utilities and mobile bills.

(CO) - Cashier’s order

(DD) - Demand draft

(IFT) - Internal fund transfer

(MEPS) - MAS electronic payment system

(TT) - Telegraphic transfer

If you are paying the same supplier or beneficiary regularly, with varying amounts each time, you may consider using “models”. “Models” will certainly save you time from having to enter the same information over and over again.

A “model” is a template where information such as payee name, account number, bank and branch codes can be entered and saved for repeated use. When you are ready to pay, pull out this “model” and provide just the payment amount and value date to create the new payment for this payee.

Creating “models”:

(Using GIRO Payment Model (template) as an example)

a) Creator to login and select “Cash” tab

b) Select “Payments SG”.

c) Select “GIRO Payment”.

d) Click “Models”.

e) Click “New Model”

f) Enter the payee payment details in the respective fields.

g) If you wish to prevent changes to any fields in the “Model”, you can set read-only fields.

h) Hold down the “Shift” key on the keyboard and click those you would like to set as read-only fields. They will be highlighted in grey.

i) Click “Save”.

j) You will be prompted to enter a “Model ID” and a “Model Name”. This will help to identify the “Model” when you use it for an actual payment.

k) After saving the “Model”, you can continue to enter payment details for the second payee. Remember to click “Save” after completing each entry.

l) Notify the Authoriser to login to verify and authorise the created “Model”.

Note: The status of the “Model” you have just created will indicate “ENTERED”. This “Model” must be authorised by an Authoriser before it can be used as a template for future transactions.

Authorise “models”:

a) Authoriser to login and select “Cash” tab

b) Select “Payments SG”.

c)  Select “GIRO Payment”.

d) Click “Models”.

e) Select the Model that you want to authorise. The model’s status should be “ENTERED” by default.

f) Select “Verify Model” once you have chosen the Model you want to authorise.

g) Select “Authorise Model”.

h) A pop-up screen will appear. Your “model” has been successfully authorised.

i) Your “Model’s Status” should be changed to “AUTHORISED”.

Transact with a “model”:

a) Creator to login and select “Cash” tab

b) Select “Payments SG”.

c) Select “GIRO Payment”.

d) Click “Models”.

e) Click “New from Model”

f) Change the “Value Date” and key in the “Customer Reference Number”.

g) Select “Save”

h) A pop-up screen will appear. This “model” has been successful for this transaction.

i) Notify the authorisers to login to verify and authorise the transaction.

All Velocity@ocbc customers are welcome to attend this complimentary training session to understand the basics of using Velocity@ocbc for cash management and trade finance transactions.

Participants will be trained in making payments, collections, trade financing applications, as well as, accessing various bank statements and reports on corporate accounts and transactions.

Time: 9.30am to 12.30pm

Payments training: Wednesdays (except public holidays)

Trade training: Every last Friday of the month (except public holidays)

Registration details in the course registration form.